News

BOC revolutionizes branch banking with VTMs, big data, mobile solutions

Bank of China partnered with IBM to introduce a customer-centric, tech-driven experience that responds to changing consumer needs.

November 7, 2014

Bank of China Tianjin Branch and IBM have launched the bank's first smart branch. The new flagship location uses advanced self-service, big data and analytics, mobile and social business tools to enhance the customer experience, a press release said. The branch will serve as a model for all future Tianjin Branch of BOC locations.

A long-term partner of BOC, IBM provided industry insight and consulting expertise to help create the bank's new smart branch.

"The completion of our flagship smart branch further illustrates BOC's dedication to continuous transformation to best meet the needs of our customers, and this is just the beginning," said Sun Huimin, president assistant at the Tianjin Branch of BOC. "Looking ahead, we plan to capitalize on digital and other innovative technologies to strengthen all of our customer-facing channels and their ability to deliver clients a personalized experience."

"With IBM's help, Bank of China is setting a new standard for the Chinese banking industry and the client experiences it delivers," said Ron Lefferts, FSS leader, GBS, IBM Greater China Group. "Consumers worldwide expect a new level of service whenever they interact with a brand, whether it be a retail store or a bank. BOC's new smart branch applies forward-looking insights gained from big data and analytics as well as social and mobile technologies to quickly respond to changing customer needs, giving BOC a distinct competitive advantage."

The new smart branch incorporates features that include:

• video teller technology — customers can carry out real-time communications with a remote bank teller for simple, standard transactions, significantly improving efficiency for both the bank and its customers;
• a dedicated customer experience section — customers can experience services and products through various terminals, including one for mobile banking. Sales representatives are equipped with mobile devices to demonstrate products;
• intelligent process management — BOC will monitor the flow of customers in branches in real time, and proactively divert customers to nearby, unoccupied branches;
• tracking of integrated customer data —BOC will capture and analyze anonymous user behavior from interactive media in the branch in order to better understand customer preferences; and
• seamless interaction —customers can buy services and obtain information via an interactive QR code wall at the branch. They can also share service QR codes on social networks in digital recommendations.

"Consumers worldwide expect a new level of service whenever they interact with a brand, whether it be a retail store or a bank," said Ron Lefferts, financial sector services leader of global business services for the IBM Greater China group. "BOC's new smart branch applies forward-looking insights gained from big data and analytics, as well as social and mobile technologies to quickly respond to changing customer needs, giving BOC a distinct competitive advantage."